Medifast (NYSE:MED) Posts Earnings Results, Misses Estimates By $0.12 EPS

Medifast (NYSE:MED) issued its quarterly earnings results on Monday. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.12), Briefing.com reports. Medifast had a net margin of 9.27% and a return on equity of 56.06%. The company had revenue of $174.74 million during the quarter, compared to analyst estimates of $168.90 million. During the same quarter last year, the firm earned $3.67 EPS. The business’s revenue was down 49.9% on a year-over-year basis. Medifast updated its Q2 guidance to $0.05-0.40 EPS and its Q2 2024 guidance to 0.050-0.400 EPS.

Medifast Price Performance

NYSE MED traded down $8.74 on Tuesday, hitting $26.77. 432,861 shares of the company’s stock were exchanged, compared to its average volume of 379,321. The firm has a market cap of $291.79 million, a price-to-earnings ratio of 2.94 and a beta of 1.14. The firm’s 50-day moving average price is $36.23 and its two-hundred day moving average price is $54.44. Medifast has a fifty-two week low of $26.02 and a fifty-two week high of $109.52.

Insider Transactions at Medifast

In related news, Director Scott Schlackman sold 4,053 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $39.44, for a total transaction of $159,850.32. Following the transaction, the director now owns 7,785 shares of the company’s stock, valued at $307,040.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MED shares. DA Davidson dropped their target price on Medifast from $67.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. TheStreet cut shares of Medifast from a “c” rating to a “d+” rating in a research note on Wednesday, February 21st.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.